A Greeks.live macro researcher said the latest rebound appears weak, citing a sudden rise in large call-option trades alongside declining implied volatility.
According to ChainCatcher, the researcher, Adam, wrote on X that large traders have started selling call options, with significant selling seen in the current month’s call contracts.
He added that margin released from June’s quarterly expiry is being rapidly converted into short option positions during the rebound.
Adam said traders could consider following by selling some 0.3-delta call options, giving the example of a $66,000 call option expiring next week.